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EUR/USD Reverses Course Post-Initial Jobless Claims Report

July 23, 2020 by

EUR/USD was falling in the second half of the European trading session today but reversed its course following a worse-than-expected employment report from the United States.

Initial jobless claims went up from the revised value of 1,307k to 1,416k last week, which surprised market participants who expected the claims count to remain at 1,300k. (Event A on the chart.)

Leading indicators increased by 2.0% in June, following 2.8% increase in May. It disappointed dollar bulls as a slightly better change (2.1%) has been forecast. (Event B on the chart.)

EUR/USD as of 2020-07-23

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